RHB Investment Research Reports

Trading Stocks - EG Industries

Publish date: Fri, 06 Jan 2023, 08:36 AM
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An official blog in I3investor to publish research reports provided by RHB Research team.

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EG Industries is looking to stage a bullish breakout to test the MYR0.545 immediate resistance on strong volume. We noticed that the volume has been increasing recently, showing that momentum is gathering speed. If a breakout happens, the momentum should propel the stock to the next resistance pegged at MYR0.60, followed by MYR0.635. In the event it retreats below the MYR0.505 support level, the bears will be in control.

Source: RHB Securities Research - 6 Jan 2023

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